September 25 had a working visit to the general director of Severstal, Alexei Mordasheva in Vorkuta, in which he evaluated the results of anti-crisis actions of OAO Vorkutaugol and discussed with company management plans for 2010.

According to Alexei Mordasheva, anti-crisis actions enabled the company to cut costs by 13% in the first half, compared to the same period last year, despite an increase in tariffs for energy in the middle of the Komi Republic by 26% and the inflation processes.

Mordashov stressed that anti-crisis measures should be continued, and the task before Vorkuta asset remains unchanged - to reach break even in the first quarter of 2010.

Analyzing the situation in the coal market, the head of Severstal, said that he does not indulge in excessive optimism about the increase in coal prices in the spot sales: The recovery in the market in August and September - a result of shortages of coking coal concentrate, arising out of to the instability of some of the industry. We can not count on rising prices in the long term. But we are learning to work in such adverse conditions.

Vorkutaugol completed the first half of 2009 with a loss of more than 1.5 billion rubles for the RAS. Due to Crisis Action Plan, which is implemented in the company since November of last year, the losses in the second quarter of 2009 compared with the first managed to reduce the three-fold.

program to combat the crisis, adopted in the company, implies a cost for all items: materials, services, energy. In early September, Vorkutaugol announced the forced measure - the reduction from December 1, 580 staff (about 4% of total staff). Implementation of anti-crisis plan of action should in future take the company to break-even level of work described in its official statement.
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